LONDON, March 9 North Sea focused Premier Oil
missed analysts' annual profit forecasts as it made its
third consecutive annual loss before tax despite a heavy squeeze
in costs and higher production.
The oil producer, which has been trying to agree new lending
terms with its creditors for nearly a year, reported an annual
pre-tax loss of $390.6 million, compared with an $830 million
loss in 2015 and analyst estimates of a $93 million profit.
Premier Oil said it expected to be net cashflow positive
this year, however, and that refinancing talks were expected to
end in late May after lenders and bondholders had signed off on
(Reporting by Karolin Schaps; editing by Jason Neely)